Sustainability

Sustainability

Sustainability Objectives 2030

Within the framework of our Commitment to Sustainability, we have set eleven objectives ourselves with a 2030 horizon. These targets will enable us to measure compliance with the commitments set out in our four sustainability priorities: decarbonisation of the economy, responsible value chain, contribution to the development of surrounding areas and anticipation and action for change.

And why are we doing this? Because we understand that the purpose of companies should not be solely to generate economic return for shareholders. They have to promote a useful economy for people, defending the environment and actively fighting against the climate crisis. In short, creating value for all stakeholders (investors, suppliers, employees, shareholders and citizens), not for just a few.

These 2030 Sustainability Goals are aligned with the priorities of the Strategic Plan 2018-2022 and with the Sustainable Development Goals (SDG) of the United Nations. The eleven objectives stand out due to their aspirational nature, their Group scope and the promotion of the collaboration and participation of stakeholders.

pdf Sustainability Commitment 2030 - Our aspiration

Decarbonisation of the economy

The Red Eléctrica Group is committed to being a proactive agent in the energy transition towards an zero-emissions model, focusing efforts on the electrification of the economy and the efficient integration of renewable energies, through the development and operation of energy storage systems and a robust and better interconnected network.

1. Reduce our GHG emissions by more than 40%
 
 

As part of the energy transition process, in an increasingly electrified society with all that this implies in terms of demands on the transmission grid, we are working to minimise our Scope 1 and 2 emissions per MWh transported fundamentally in its two main components: the emissions derived from the management of SF6 used in high-voltage equipment and emissions from the technical losses of energy in the transmission grid.

 

This objective contributes to the SDG Nº 13

2. Empowering 100% of society for active participation in the energy transition process
 

We are working to provide people, companies and organisations, in an absolutely transparent way, all the information that they need to be aware of the reality of their electricity consumption and its impact both in economic terms and in regard to sustainability.

On the basis of this information, people and small consumers, like the rest of the agents in the sector, will be able to consciously adjust their behaviour in accordance with their values and interests, becoming protagonists in the energy transition.

 

This objective contributes to the SDGs Nº 13, 7 and 9

    
3. Securely integrate 100% of the available renewable energy into the electricity system, minimizing discharges and accelerating progress towards meeting the energy transition targets
 

We are working to be a key agent to make the energy transition process more dynamic, ensuring the maintenance of current levels of quality and continuity of supply, through the development of interconnections and other infrastructure and tools that are needed to operate an electricity system based primarily on renewable energy sources or free of GHG emissions, which optimises the use of renewable resources by minimizing discharges due to technical conditions and is economically sustainable.

 

This objective contributes to the SDGs Nº 13 and 7

  

 

Responsible value chain

The Red Eléctrica Group is committed to extending our commitment to responsibility to all of the links in the value chain, from our people to our suppliers and customers, through the creation of alliances and based on our model of governance and integrity.

4. To be the driving force behind the change of our suppliers
 



We work to involve all of our suppliers in our sustainability commitments, extending our greenhouse gas emission reduction targets throughout the supply chain, in addition to the development of biodiversity conservation plans.

 

This objective contributes to the SDGs Nº 17, 13 and 15

    
5. To be a company financed under ESG criteria by 2030
 


Our commitment to sustainability, and in particular, to energy transition, permeates all the Group's activities, and we want to highlight this reality for our investors and financial institutions.

For this reason, we are working so that by 2030, the financing that we obtain for the development of our activities will be classified as a "green" financial product in accordance with the sustainability criteria established within the framework of the EU, or similar international reference criteria.

 

This objective contributes to the SDG Nº 17

 

Contribution to the development of the surrounding areas

The Red Eléctrica Group is committed to contributing to economic, environmental, and social progress of the surrounding areas, by providing an essential service securely and efficiently, promoting the conservation of the environment, quality of life, and social welfare, and involving communities in the development of our activities, so that a mutual benefit is generated and perceived by the surrounding area.

6. To be leading company in gender equality: parity in the executive management team by 2030
 



We are working to inspire and be a point of reference through our commitment to equality and non-discrimination, both within the company and in the social environment, seeking parity in the executive management team.

 

This objective contributes to the SDG Nº 5

7. To be a leading company in terms of diversity: inclusion of groups at risk of social and labour exclusion
 



We are working to inspire and be a point of reference through our commitment to diversity of talent, social and labour inclusion and non-discrimination, both within the company and in the surrounding areas.

 

This objective contributes to the SDG Nº 10

8. To generate a positive net impact on the Natural Capital of the areas near our facilities
 

The RE Group's activity generates a clearly positive net impact on society as a whole. A recent study shows that the overall value contributed exceeds the negative impacts generated by the activity of the Group's companies by almost tenfold.

However, since the value contributed to society is mainly global, Red Eléctrica is working to increase positive local impacts, evaluated in accordance with internationally recognised methodologies.

 

This objective contributes to the SDGs Nº 15, 14 and 13

    
9. To completely eliminate the digital divide: 100% of people connected in the areas near our facilities
 

We are working so that 100% of the people, companies and entities located in the areas near of our infrastructure have full access, at a reasonable cost, to the knowledge society, through all of the services and opportunities generated by the new information technologies.

To this end, we provide society and agents in the sector with adequate infrastructure to provide broadband communication, which meet the sector's most demanding quality standards, especially in rural areas that are experiencing the greatest inequalities in regard to access to these services.

 

This objective contributes to the SDGs Nº 8 and 10

 

 

Anticipation and action for change

The Red Eléctrica Group is committed to promoting a corporate culture of innovation and flexibility that allows us to identify growth opportunities and respond to future challenges, anticipating and adapting to global trends and the regulatory environment arising from the new energy model.

10. To be a leading technological agent, promoting at least 120 technological innovation initiatives that contribute to the development of the energy transition and telecommunications, making the world a more connected, smart and sustainable place.
 

Digitisation is an accelerated process that is creating new forms of relations, in a very broad sense, and businesses that until a few years ago were unimaginable. The sectors in which the RE Group operates (energy and telecommunications) are immersed in an intense process of structural change as a result of the progressive decentralisation of the value chain and the acceleration of technological advances. Aware of this reality, we are working to accelerate and consolidate the development of at least 120 technological innovation initiatives in the field of telecommunications and energy.

 

This objective contributes to the SDGs Nº 7 and 9

  
11. To be a leading company in circular economy
 

The circular economy involves a change in the paradigm of consumption at all levels, the aim of which is to ensure that each product has multiple cycles of use and production, or in other words, resources become products, products become waste and waste becomes resources.

To achieve this objective, we are working together with the agents in our value chain at all stages of the product life cycle (raw materials, design, production, consumption and reuse) so that by 2030, the equipment and materials used in the activities of the RE Group will be produced from reused or recycled materials and that, at the end of their useful life, they are recycled, reused or recovered, thus closing the circle of sustainability for all the equipment and materials used.

 

This objective contributes to the SDGs Nº 12 and 9